Urban properties near green space have an average premium of £2,500

 

The closer public green space is to a property and the more there is, the higher the property premium – which property investors can use to their advantage when choosing an investment location.

An analysis by the Office for National Statistics (ONS) revealed homes and flats within 100 metres of public green space were on average £2,500 more expensive than homes 500 metres away. This was an average premium of 1.1% on house prices in 2016.

The study by ONS looked at more than a million properties sold on Zoopla between 2009 and 2016 in England and Wales to see how much buyers and investors value properties near green space and what else impacts the premium. Ordnance Survey’s Open Greenspace data was also used to find public parks, gardens, play spaces, sports facilities and playing fields near properties.

Detached houses near green spaces attracted the biggest price tags with a premium of 1.9%, while flats saw a 0.6% premium. Additionally, having a view of green space or water raised the value even more. This research shows how much homebuyers value purchasing property near green space – information which can also be used by investors when deciding on the most appealing investment option to attract the most tenants.

City centres with green space

Despite urban expansion in UK cities, there are still lush pockets across the nation. Even some of the most densely populated cities are some of the leafiest, like Birmingham and Manchester. Both have industrial backgrounds but are the second and fourth UK cities with the most green space outside of London.

Birmingham and Manchester boast hundreds of parks and green areas, showing Brits don’t necessarily need to live in the countryside to have access to green space. With many benefits coming from living among leafy surroundings, like increased happiness, homebuyers and renters are likely to continue valuing living close to green space.

A large number of BuyAssociation’s investment opportunities are ideally situated close to green space, while having all the amenities of the area on the doorstep – browse our investments page to find out more.

Highgrove Mews

High Net Yield Freehold Houses

  • Commutable to London (27 mins to central Paddington station)
  • Rental demand extremely strong with large industry presence in Reading
  • Freehold with 4% net yield

£284,955 - £457,000

St Petersgate – Stockport Manchester

New Launch - Stockport Manchester, apartments from £160,000

  • Discounted launch prices from £160,000
  • Excellent transport links with 3 trains per hour to London Euston and only 9 mins journey to Manchester Piccadilly
  • Experienced development team

Assured Rent Housing Association Leases

Assured Rent Housing Association Leases

  • Assured rent & no rental voids
  • Tenant damage cover & newly refurbished inline with requirements of a corporate sitting tenant
  • Free property and lettings management

From £62,000

Emerging Birmingham Commuter Town With Properties From Just £104,000

The emerging Birmingham commuter town where properties are selling in an average of just 24 days

  • A collection of 62 two bedroom apartments and 28 one bedroom apartments.
  • DE14 is one of the fastest selling postcodes in the West Midlands.
  • 23 minute train journey into Birmingham New Street Station.

Properties from £104,000

Mill, Stockport

The Northwest's emerging property hotspot

  • Discounted off-plan 2-bed prices from £162,000
  • Completion date - Q4 2021
  • Rental yields - 6% plus

Discounted off-plan 2-bed prices from £162,000

South Central – Birmingham City Centre Apartments

Highly anticipated 28 storey launch in Birmingham City Centre with an impressive roof garden and communal facilities.

  • 154 units across 28 storeys
  • Residential multi-media community room, gym, roof garden and sky cinema
  • Excellent future connectivity via the metro system to other key transport hubs and locations around the city

from £205,800

ba-

Talk to us

Speak to our UK property experts today: 

+44 (0) 333 123 0320

Open from 9am-6pm GMT

+852 9865 4446

Open from 9am-6pm HKT

Stamp Duty Calculator

.

Unlock members only investment opportunities and full development details. Join now – it’s free, quick and easy.

Login

Not a member? Sign up for free

Government allows more agricultural conversions for new rural homes

Urban properties near green space have an average premium of £2,500

Example

By submitting your details via this online form you agree to be contacted via email/phone/SMS by Direct Marketplace Ltd t/a BuyAssociation in relation to property investment and property developments . We do not share your personal details with third parties.  To view our full Privacy Policy click here.